TRANSCRIPT

We are living in a new space age, one that promises to deliver extraordinary technological, commercial, and potentially environmental benefits.
Lori Garver, former Deputy Director of NASA and Jason Gursky, Citi&rsquo;s resident Aerospace and Defense Analyst join the podcast to help us understand what is happening in the interplanetary world.
Lori, A three-time advisor to presidential candidates and author of &lsquo;Escaping Gravity,&rsquo; gives a personal account of the inner workings of NASA, the exciting new innovations on the horizon and why she thinks Space is critical to the future of humanity. Jason talks us through the impact of commercial investment in Space and the opportunities created by lowering costs and private sector involvement.
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Citigroup, Inc. Citi and Lori Garver are not affiliated and are independent companies. The speakers views are of their own and may not necessarily reflect the views of Citi or any of its affiliates. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. The expressions of opinion are not intended to be a forecast of future events or a guarantee of future results.
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Lori Garver is the former NASA Deputy Administrator. She is also the author of "Escaping Gravity: My Quest to Transform NASA and Launch a New Space Age."
Nominated by President Barack Obama and confirmed by the U.S. Senate, Lori Beth Garver was the deputy administrator of NASA from July 17, 2009 to September 6, 2013. As deputy administrator, Garver was NASA's second in command. She worked closely with the administrator to provide overall leadership, planning, and policy direction for the agency.
Garver's confirmation as deputy administrator marked the second time she has worked for NASA. Her first period of service to the agency was from 1996 to 2001. She first served as a special assistant to the NASA administrator and senior policy analyst for the Office of Policy and Plans, before becoming the associate administrator for the Office of Policy and Plans. Reporting to the NASA administrator, she oversaw the analysis, development and integration of policies and long-range plans, the NASA Strategic Management System, and the NASA Advisory Council.
A native of Michigan, Garver graduated from Haslett High School in Haslett, Michigan, in 1979 and four years later, in 1983, she earned a bachelor's degree in political science and economics from Colorado College. Her focus turned to space when she accepted a job working for Sen. John Glenn from 1983 to 1984. She since has served in a variety of senior roles in the nonprofit, government and commercial sectors.
Garver worked at the newly formed National Space Society from 1984 to 1996, becoming its second executive director in 1987. She served as the society's primary spokesperson, making frequent appearances on national television and regularly testifying on Capitol Hill. During that time, she also earned a master's degree in science, technology and public policy from George Washington University in 1989.
After working at NASA from 1996 to 2001, Garver was employed as the vice president of DFI Corporate Services from 2001 to 2003. From January 2001 until her nomination as NASA's deputy administrator, she was a full-time consultant as the president of Capital Space, LLC, and senior advisor for space at the Avascent Group. In these roles, she provided strategic planning, technology feasibility research and business development assistance, as well as merger, acquisition and strategic alliance support, to financial institutions and Fortune 500 companies.
Garver was the lead civil space policy advisor for the 2008 Obama presidential campaign and led the agency review team for NASA during the post-election transition. Previously, she served as the lead space policy advisor for the Hillary Clinton and John Kerry campaigns for president and represented them at various events and conferences. Garver has held numerous senior positions in space policy. She was a member of the NASA Advisory Council, a guest lecturer at the International Space University, president and board member of Women in Aerospace, and president of the American Astronautical Society. She lives in Virginia with her husband, David Brandt, and their sons Wesley and Mitchell.

Lori Garver, Former Deputy Administrator of the National Aeronautics and Space Administration (NASA)

Jason Gursky is the senior U.S. aerospace and defense analyst with Citigroup, where he was named a top stock picker and top earnings estimator in the space by Thompson Reuters in recent years. Previously he has covered technology supply chains for JPMorgan and held various management roles in the telecommunications sector. He holds an MBA from UC Berkeley, an MA in International Relations from The Johns Hopkins University and a BA in International Relations from UC Davis.

Jason Gursky, Aerospace and Defense Analyst, Citi Research

Season 4

We are living in a new space age, one that promises to deliver extraordinary technological, commercial, and potentially environmental benefits.
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Good Things Happen, E6: The New Space Age

Following the Covid pandemic, the world has experienced a sharp rise in global digital interactions, from remote working and learning, to online shopping and telemedicine.&nbsp;
In this episode of Good Things Happen we look at what these shifts mean for healthcare around the world, including health equity and access, healthcare systems and long-term wellbeing.
Dr Harshit Jain, Founder and CEO of Doceree - one of the world&rsquo;s leading healthcare marketing platforms - joins the podcast to discuss the role of technology in global health and the formidable success his company has had connecting pharmaceutical companies with physicians in real-time, with the support of Citi.
Joining Harshit is Nauman Ansari, Head of Healthcare for Citi Commercial Bank. He spotlights the behavioural shifts the world has seen since the pandemic, including the rise of wellbeing in the workplace, work life balance and the increasing autonomy people are seeking over their own health. Ansari explains the focus of Citi Commercial Bank&rsquo;s Healthcare Industry team and the opportunities that are arising as part of the health tech revolution.
Citigroup (&ldquo;Citi&rdquo;), and Doceree are not affiliated and are independent companies, though Doceree has a relationship with Citi through Citi&rsquo;s Commercial Bank. The speakers&rsquo; views are their own and may not necessarily reflect the views of Citi or any of its affiliates. All opinions are subject to change without notice. Neither the information provided, nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. The expressions of opinion are not intended to be a forecast of future events or a guarantee of future results.
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Dr Harshit Jain is the Founder and Global CEO of Doceree, the First Global Network of Physician-only Platforms for Programmatic Marketing. Founding Doceree in 2020, Harshit is aiming to address the acute problem of rising cost of healthcare by bringing in efficiency and effectiveness in marketing to Physicians by pharma brands on digital platforms with methodical use of data and creativity.
A healthcare innovator, he is driving health transformation across the globe, delivering life changing, creative and sustainable ideas. Recognized as Elite 2020 Disrupter Award by premier global PM360 Magazine for his venture, Dr Harshit has addressed some of the biggest health challenges &ndash; Immunization, Vitamin D deficiency, Diabetes by creatively and innovatively using data. In his over 16 years of professional journey, he weaved together his domain expertise of medicine and his marketing acumen to come up with out-of-the box ideas and campaigns in the healthcare space.&nbsp;
For his pathbreaking work, he has been conferred with eminent industry awards and accolades -- Cannes lions Grand Prix for Good, India&rsquo;s first Black Pencil at D&amp;AD Awards, One Show&rsquo;s first ever Best of Discipline Award in Health, Wellness &amp; Pharma category, 40 under 40 APAC marketing-communications achievers, 2017 Most Influential Global Marketing Leaders of the Year by the World Marketing Congress to name a few. An accomplished speaker Harshit played a key role in making India win the first ever Black Pencil &ndash; the highest honor at D&amp;AD Awards through the Immunity Charm campaign, a brainchild of his.
He cut his teeth at big advertising agencies, including McCann where he held a series of positions including Country Head, Marketing Director &amp; Innovation Lead in Asia, Europe and Americas. Besides being a qualified physician &ndash; an MD from Chicago&rsquo;s Northwestern University, Dr Harshit holds an executive MBA from Indian Institute of Management, Lucknow and has also published a textbook in medicine.

Dr. Harshit Jain, Founder and CEO, Doceree

Nauman Ansari is a Managing Director and Global Head of Healthcare at Citi Commercial Bank. Nauman&rsquo;s career in banking spans over 20 years, and has been primarily focused on the Healthcare industry, where he has led a number of market-leading, transformative deals and developed a breadth of relationships across the sector. He joined Citi in 2023 from Evercore where he led the EMEA Corporate Debt Advisory team.&nbsp; Nauman is focused on leading a global team of bankers who provide banking services and solutions to mid-sized corporates across healthcare verticals. Services include but are not limited to advisory and execution on access to capital, mid-market M&amp;A advisory services, FX, domestic and international treasury management as well as trade and working capital solutions. After starting his banking career as a Medical Technology Healthcare Equity Analyst in New York, Nauman worked across multiple banking products and specializations, while gaining the majority of his experience in Leveraged and Acquisition Finance, at HSBC, Morgan Stanley and Bank of America. Earlier in his career Nauman was focused on North America, and over the past 15 years he spent the majority of his time with EMEA and Global clients, and on cross-border, often trans-Atlantic, transactions. Nauman has a BA from Boston College, an MBA from NYU&rsquo;s Stern School of Business and a Master&rsquo;s Degree in International Economics from Columbia University in New York. He is based in London.

Nauman Ansari, Head of Healthcare, Citi Commercial Bank

Read the latest Citi GPS report on the&nbsp;<a style="font-size: 14px;" href="https://www.citigroup.com/global/insights/citigps/future-of-healthcare" target="_blank" rel="noopener" data-link-source="tiny">Future of Healthcare</a>.&nbsp;
The average global citizen born today will live almost 30 years longer than one of their forebears born in 1950, one of humanity&rsquo;s most astonishing achievements. But the global healthcare system&rsquo;s vital signs have deteriorated recently.

Citi GPS: Future of Healthcare

Following the Covid pandemic, the world has experienced a sharp rise in global digital interactions, from remote working and learning, to online shopping and telemedicine.&nbsp;

Good Things Happen, E7: The Health Tech Revolution

report

Artificial Intelligence (AI) will profoundly change the future of finance and money. And according to a new Citi GPS report, it could potentially drive global banking industry profits to $2 trillion by 2028, a 9% increase over the next five years.
Just as the steam engine powered the industrial revolution, and the internet ushered in the age of information, AI may commoditize human intelligence. Finance, a data rich industry with clients adopting AI at pace, will be at the forefront of change.&nbsp;&nbsp;
Long-established jobs have been eliminated in past periods of technological transformation, to be replaced by new ones. Many firms have vanished too. AI will repeat this cycle, possibly speeding it up.
For now, GenAI in finance is largely at a proof-of-concept stage. But we&rsquo;re in a period of rapid and unprecedented transition. In this report, we discuss what use cases are likely in the next couple of years, and we gaze further ahead too, calling on insights from those at the sharp end of progress.
The tech adoption strategy of most incumbents involves adding it on top of existing products or using the new technology to boost productivity. Startups meanwhile are using new technology to disrupt and unbundle what incumbents do.&nbsp;
<img src="/rcs/v1/media/citigpa/akpublic/storage/retrieveMediaFile/66727f1b00a31802421fe531.jpg" width="600">
As AI-powered agents, bots and beyond, become prevalent, how will money and finance change? How will the underlying concepts and structures of finance be reshaped? In a bot-to-bot world, where machines transact with minimal human intervention, what will the world of money look like?
AI could drive productivity gains for banks by automating routine tasks, streamlining operations, and freeing up employees to focus on higher value activities.&nbsp;
Finance sector leaders are overwhelmingly optimistic about the profit impact of AI. Indeed 93% of respondents to a proprietary survey expect higher bank profits on the back of productivity gains. But caution will be needed around implementation timelines, talent costs, heightened competition, rising client expectations and the costs associated with greater AI generated activity.
A shift to a bot-powered world also raises questions around data security, regulation, compliance, ethics and competition. Since AI models are known to hallucinate and create information that does not exist, organizations run the risk of AI chatbots going fully autonomous and negatively affecting the business financially or its reputation.
AI-powered clients could increase price competition in the finance sector. The balance of power may shift.
AI may be adopted faster by digitally native, cloud-based firms, such as FinTechs and BigTechs, with agile incumbent banks following fast. Many incumbents, weighed down by tech and culture debt, could lag in AI adoption, losing market share.&nbsp;
All technology goes through cycles: hype, disillusionment, then mass adoption. AI expectations have been high since mid-2023. As financial firms grapple with the transition, the gap between hype and mass production currently remains wide.&nbsp;
In the finance world, and beyond, most of us have already been wowed by AI&rsquo;s potential to drive disruptive change. The question now is, how?&nbsp;

Bot, Bank & Beyond 

Artificial Intelligence (AI) will profoundly change the future of finance and money. And according to a new Citi GPS report, it could help drive global banking industry profits to $2 trillion by 2028, a 9% increase over the next five years.

AI in Finance

In the series finale of Good Things Happen, we joined Citi&rsquo;s 11th annual Digital Money Symposium in London which took place on 20th June, to be inspired by thought leaders across the financial services ecosystem, discussing &lsquo;the future of finance and money&rsquo;.
Guest host Alex Miller, from Citi&rsquo;s Global Insights team is joined by Bin Ren, Founder &amp; CEO of Sig Tech and Ronit Ghose, Citi&rsquo;s Head of Future Finance to discuss the emerging role of artificial intelligence in global banking.
Bin Ren tells us about the autonomous AI agents his company is building, including those able to pass the Chartered Finance Analyst exam at 90 percentile performance. He describes the opportunities he sees to use AI to scale the industry, boost productivity and enhance jobs.
Ronit Ghose, joins the podcast to talk through AI and the considerations and regulations being put in place to avoid and mitigate risks such as deep fakes and AI hallucinations.
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Citigroup Incorporated, (Citi) and SigTech are not affiliated and are independent companies. The speakers' views of their owner may not necessarily reflect the views of Citi or any of its affiliates. Neither the information provided nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. The expressions of opinion are not intended to be a forecast of future events or a guarantee of future results.

Before founding SigTech at the start of 2019, Ren was the Chief Investment Officer of the Systematic Investment Group (SIG) at Brevan Howard Asset Management where he managed multiple quantitative investment funds. He started his career at Barclays Capital as an equity exotics trader managing quantitative investment strategies across all major asset classes. Before university, Ren skipped two grades in school and won three first prizes in the Chinese National Olympiads, because of which he was exempted from the Chinese National College Entrance Examination.
After earning a Bachelor&rsquo;s degree in electrical engineering at the national gifted education program of Shanghai Jiaotong University, Ren was directly admitted with full scholarship to the PhD program for computer science at Cambridge University, UK. While there he researched the Xen virtual machine monitor that was chosen by Amazon as the foundation of the AWS cloud-computing platform.

Bin Ren, Founder & CEO, SigTech

Ronit is the Head of Future of Finance for the Citi Global Insights team. Prior to this Ronit was Global Sector Head for Banks in Citi Research. He has been Head of the European Banks team since 2009. He is the lead analyst on HSBC, Standard Chartered, the GCC and Nordic Banks. Since joining Citi in 1997, Ronit has covered banks in the Benelux, Canada, Cyprus, France, Greece, Saudi Arabia, Scandinavia, Spain, UAE and the U.K. Ronit previously worked at the British Bankers&rsquo; Association and as a research assistant in Parliament for the former U.K. Prime Minister Sir Edward Heath. Ronit has an undergraduate degree in Modern History (University of Oxford), a postgraduate diploma in Economics (University of London), and is a CFA charterholder.

Ronit Ghose, Head of Future of Finance, Citi Global Insights

In the series finale of Good Things Happen, we joined Citi&rsquo;s 11th annual Digital Money Symposium in London which took place on 20th June, to be inspired by thought leaders across the financial services ecosystem, discussing &lsquo;the future of finance and money&rsquo;.